Societe Generale Ghana to be sold to Attijariwafa Bank as SSNIT retains stake
Attijariwafa Bank to acquire majority stake in Société Générale Ghana, keeping SSNIT as 5% shareholder
Société Générale Group has agreed to exit its majority ownership of Société Générale Ghana, selling its entire 60.22% holding to Attijariwafa Bank. The pan‑African lender will take a 55.22% stake, with SSNIT acquiring the residual 5%, ensuring continuity of the institution’s operations and workforce. The deal includes the transfer of all existing client portfolios, staff and active business lines to the new owner once regulators give the green light.
The transaction reflects a broader reshaping of Ghana’s banking sector, where foreign groups are adjusting holdings in response to local market dynamics. It also aligns with recent efforts to deepen African ownership in financial services, a trend championed by institutions such as SSNIT. Ghanaian customers and employees will likely see changes in branding and service offerings as integration progresses.
Attijariwafa Bank must still satisfy customary conditions and secure approval from the appropriate financial authorities before the deal closes, a process that could take several months. Once approved, the bank will assume full control of Société Générale Ghana’s operations, marking a definitive shift in ownership structures within the country’s banking landscape.
